ICICI BANK Announces Quarterly Results (1QFY21); Net Profit Up 36.2%

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ICICI BANK Announces Quarterly Results (1QFY21); Net Profit Up 36.2%
Thu, 30 Jul

ICICI BANK has announced its results for the quarter ended June 2020. Here is a detailed performance review of the same:

ICICI BANK Quarterly Financials

No. of Mths
Qtr. Ending
3
Jun-19*
3
Mar-20*
3
Jun-20*
QoQ ChangeYoY Change
Operating incomeRs m179,801191,887199,2443.8%10.8%
Other incomeRs m34,25442,55061,42644.4%79.3%
Total revenuesRs m214,055234,437260,67011.2%21.8%
InterestRs m102,426102,618106,4463.7%3.9%
Gross Profit Rs m77,37489,26992,7984.0%19.9%
Other expensesRs m48,74457,91846,459-19.8%-4.7%
Profit before taxRs m27,92714,22731,825123.7%14.0%
TaxRs m8,8472,0135,834189.8%-34.1%
Profit after taxRs m19,08012,21425,992112.8%36.2%
Gross profit margin %43.046.546.6
Effective tax rate%31.714.118.3
Net profit margin%10.66.413.0
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Company Reports, Regulatory Filings, Equitymaster


Year-on-Year Performance:
  • The bank's operating income (interest earned) during the quarter grew 10.8% on a year-on-year (YoY) basis. The interest expended was up by 3.9% YoY during the same period.
  • The bank's operating profit increased by 19.9% YoY during the quarter. Consequently, operating profit margins witnessed a growth and stood at 46.6% in 1QFY21 as against 43.0% in 1QFY20.
  • Other income increased by 79.3% YoY during the quarter.
  • Net profit for the quarter increased by 36.2% YoY. Net profit margins during the quarter increased from 10.6% in 1QFY20 to 13.0% in 1QFY21.
Quarter-on-Quarter Performance:
  • The bank's operating income (interest earned) during the quarter grew 3.8% on a quarter-on-quarter (QoQ) basis. The interest expended was up by 3.7% QoQ during the same period.
  • The bank's operating profit increased by 4.0% QoQ during the quarter. Consequently, operating profit margins witnessed a growth and stood at 46.6% in 1QFY21 as against 46.5% in 4QFY20.
  • Net profit for the quarter increased by 112.8% QoQ, while net profit margins increased from 6.4% in 4QFY20 to 13.0% in 1QFY21.

To see how ICICI BANK has performed over the last eight quarters,please visit here.

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ICICI BANK Share Price Performance

Over the last one year,ICICI BANK share price has moved down from Rs 425.0 to Rs 351.8, registering a Loss of Rs 73.2 or around 17.2%.

Meanwhile, the S&P BSE BANKEX is trading at Rs 25,215.5 (up 0.6%). Over the last one year it has moved down from 32,582.6 to 25,215.5, a loss of 7,367 points (down 22.6%).

Overall, the S&P BSE SENSEX is up 1.8% over the year.

Current Valuations

At the current price of Rs 351.8, the price to earnings (P/E) ratio of ICICI BANK stands at 26.4 times its trailing twelve months earnings, while its price to book value (P/BV) ratio stands at 2.0 times.

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